# The Witte ruble and the Golden Digital Ruble. A financial and budgetary essay. (Dedicated to the 25th of October - the anniversary of the great event)

Henry de Overwood

MMMDLIX. The Witte ruble and the Golden Digital Ruble. A financial and budgetary essay. (Dedicated to the 25th of October - the anniversary of the great event). - October 24, 2024.

The Witte ruble and the Golden Digital Ruble. A financial and budgetary essay. (Dedicated to the 25th of October - the anniversary of the great event).


The radio tells about the current draft Budget Law, about the inflation indicators on which this draft is based (social benefits, many salaries, etc. depend on inflation indicators).


In a difficult situation, it is useful to rely on a historical experience.


The history of Russia does not contain noticeable traces of the Laws on the budget of the Provisional Governments of 1917.


The Provisional Government (which was erected in February 1917) existed for less than a year.


The deputies of the State Duma existed, they walked along the corridors and had smart conversations, sometimes they gathered and collectively discussed various issues. But the State Duma, as a representative state body - it did not function. Thus, both the brevity of existence and the lack of a "place for discussion" - all this did not allow the Provisional Government of February 1917 to leave noticeable traces of the movement of the Budget Law.


The Provisional Workers' and Peasants' Government (erected in October 1917) (October 25, 1917, old style) was preoccupied with issues of a justice, of a fight against colonialism, concern for peace, and of the war against enemies, so it also left no noticeable traces of the movement of the Budget Law.


Under the Provisional Workers' and Peasants' Government (of October 1917), there were such representative bodies as the Congresses of Soviets, the Central Executive Committee, and the Constituent Assembly, but these "places for discussion" also apparently did not have time to enjoy any discussions, to adopt drafts budget laws prepared by the Executive Branch.


How did the budget system function at that time? There was a cliché - a forme for printing, and it was possible to print an unlimited number of banknotes (of the Russian Empire - tsarist rubles).


At this point of reflection, we come to one of the most significant arguments.


Why did the post-revolutionary population of Russia trust paper tsarist rubles?


It's all about the efforts of Sergei Witte, who introduced gold rubles into widespread use and introduced as an immutable rule the free exchange of paper rubles for gold ones and gold ones for paper banknotes (paper rubles). Such monetary circulation, based on the rules of Sergei Witte, was very popular with (among) the population. As it often happens, people, for the most part, forgot Sergei Witte, they weren't remembering him with a kind word, but everyone liked his achievements, everyone used them with pleasure, everyone considered them as natural (self-evident), and everyone got used to them.


And if there are natural (self-evident) phenomena in this world (such as a water flowing in rivers or a rain falling from a sky), then, accordingly, everyone reasonably expected the return of the free exchange of paper rubles for gold ones and gold rubles for paper banknotes.


Now, as we all know, a constant persistent work is underway to reduce inflation rates.


Therefore, it's time to remember Sergei Witte and his achievements.


The cause of no great man can develop without the efforts of his followers (followers who stand on the shoulders of giants).


Personally, I really liked Sergei Witte's memoirs, his stories about his (Witte's) efforts in various fields and about the gratitude to Witte from the Autocrat of the All-Russian.


Periodically reflecting on the activities and fate of Sergei Witte, I proposed the concept of the Russian Gold Digital Ruble (MMMCCCLVII. Generator of Ideas. (Golden Digital Ruble and Profitable Texts from Artificial Intelligence). A story about Seryozha for children and adults. - September 8, 2023).


In this (today) essay, I would like to add some details to this conception.


The gold digital ruble (gold coin of various denominations) is issued under an individual number, which is put onto the coin - along with the date (year) of issue and information about the weight of pure gold in the coin (and other data).


The gold ruble is freely exchanged for paper rubles (for banknotes), and paper rubles are freely exchanged for gold coins.


All - without exception - issued coins are counted in the special Table (in the Register) posted on the Official website, in the public domain.


From this Table of the Gold Digital Ruble of Russia, anyone can find out up-to-date information about any issued coin, including its current exchange rate value when exchanged for paper rubles.


The exchange is carried out at the discretion of the owner of the coin either (1) in free cash circulation (when paying for goods, for example), or (2) when buying and selling coins in specialized exchange offices of banks at a rate close to the official gold purchase-sale rate (in the 2nd variant, coins can acquire the character of investment coins).


When introducing the Digital Gold Ruble into circulation, the historical experience accumulated by the financial and budgetary system of Russia in 1917 will be taken into account.


October 24, 2024, 19:58


Translation from Russian into English: October 27, 2024 02:36

Владимир Владимирович Залесский ' Рубль Витте и золотой цифровой рубль. Финансово-бюджетный очерк. (Посвящается 25-му октября - годовщине великого события) '.


{ 3588. Рубль Витте и золотой цифровой рубль. Финансово-бюджетный очерк. (Посвящается 25-му октября - годовщине великого события). - 24 октября 2024 г.

MMMDLIX. The Witte ruble and the Golden Digital Ruble. A financial and budgetary essay. (Dedicated to the 25th of October - the anniversary of the great event). - October 24, 2024.


Vladimir Zalessky Internet-bibliotheca. Интернет-библиотека Владимира Залесского. }